High-tech Industries Research Articles

Abnormal Stock Market Returns to Business Model Extension Announcements: Value Drivers & Moderators

The value-creation potential of business model extensions (BME) in incumbent companies remains a subject of ongoing debate and is currently not substantiated by market-value focused empirical research. Especially the moderating role of economic uncertainty and the interplay with traditional product-industry diversification have not been empirically examined. This study aims to close that gap. We utilize an event study setup to measure the value-creating effect of BME and its moderators. Using a unique dataset of joint ventures in the high-tech industry industry, we measure the effects of BME and its moderators on abnormal stock market returns. Our findings indicate that BME leads to higher abnormal stock market returns. This effect is further amplified under company-level, industry-level, and macroeconomic uncertainty. Additionally, we discover that, under these uncertainties, combinations of BME and product-industry diversification are value-creating, whereas product-industry diversification alone tends to be value-destroying.

Relationships between leadership style, career development, work stress, and turnover intention in a high-tech industry: Moderating role of psychological contract

Employee turnover is an unavoidable part of business development, costing important human resources and impeding long-term growth and strategy implementation. To maintain a steady workforce, businesses must prioritize understanding and addressing this issue. The objective of this study is to examine the impact of leadership style, career development, and work stress on turnover intention in the high-tech industry and to investigate the moderating role of psychological contracts in these relationships. The sample consists of 380 employees of the R&D departments in high-tech companies in Shenzhen, Guangdong province, China, mainly engaged in the electronic information, advanced manufacturing, and automation sectors. The data were gathered via an online questionnaire, and the Smart-PLS approach was used to analyze the data. The empirical findings indicate that transactional leadership, transformational leadership, and career development are significantly and negatively related to turnover intention, whereas work stress has a significant positive effect. The psychological contract moderates the relationship between career development and turnover intention; the higher the psychological contract, the stronger the relationship. In addition, the psychological contract moderates the relationship between work stress and turnover intention, whereby the higher the psychological contract, the weaker the relationship. However, no empirical evidence suggests that the psychological contract moderates the relationship between leadership styles and turnover intention. The R² value is 0.485, indicating moderate explanatory power, and with a GOF index of 0.492, the model also demonstrates a good fit with the data. This study offers considerable implications for both theoretical and practical applications.

Recent Advances in Indium Recovery

Though indium has been removed from the fifth list (2023) of critical raw materials for the European Union list of critical metals, its recovery is still of paramount importance due to its wide use in a series of high-tech industries. As its recovery is closely associated with zinc mining, the recycling of In-bearing wastes is also of interest, for both profitable and environmental reasons. With unit operations (in hydrometallurgy and pyrometallurgy or extractive metallurgy) playing a key role in the recycling of indium, the present work reviewed the most recent innovations (2024) regarding the use of these operations in the recovery from this valuable metal from different solid or liquid wastes.

Industry specialisation of the Kemerovsk region – Kuzbass: trends and problems that affect economic growth and development of the region

The article is devoted to studying the influence of industry specialisation of the Kemerovo region – Kuzbass on the economic growth of the entity. The purpose of the study is to identify the most significant trends and problems of the industry specialisation that affect the development of the region. Using methods of scientific knowledge – description, synthesis and generalisation of the data obtained; literature review, graphical method – the following has been conducted: analysis of the dynamics of structural changes in the gross regional product (hereinafter referred to as GRP) of the Kemerovo region – Kuzbass; assessment of trends in the movement of main industry indicators and indicators of regional industry. The information base of the study consists of foreign and domestic publications devoted to the analysis of the GRP sectoral structure; statistical data from the Federal State Statistics Service and its territorial authority for the Kemerovo Region – Kuzbass. Based on the analysis of the structural changes dynamics, an increase in the contribution of the raw materials sector to the country’s gross domestic product and an increase in the share of mineral extraction in the industry structure of the GRP of the Kemerovo region – Kuzbass have been revealed. The trend of decrease in the industrial production index is analysed, it is shown that it has a trend similar to the dynamics of the decline in mining production, and the reasons for the decline are described. The strengthening trend of economic growth in the Kemerovo region – Kuzbass based on the raw model has been determined. East Asian models of economic growth are considered. The expediency of using international experience in the design of high-tech industries on the basis of private investment in the research and development sector, and its adaptation to the realities of the development of Russian regions is indicated. A conclusion is drawn about the need to support the technological sovereignty of the country and the transition of the development of the Kemerovo region – Kuzbass to a non-primary model.

The Influence of Sino-US Trade Friction on the Export Volume of China's High-tech Products

With the rapid development of economy, witnessing the extraordinary progression of the economy, China has ascended as the second largest economy globally, and the gap with developed countries is getting smaller and smaller. For a long time, there has been a huge trade deficit from China to the United States. The United States provoked trade friction on the grounds of trade protectionism, restricting trade with China, high-tech industries being the focus. Employing the difference-in-differences (DID) methodology, this paper scrutinizes the influence of Sino-US trade frictions on the export value of China's high-tech industries, utilizing the export data of China's high-tech industries to the United States spanning from 2012 to 2022. It is found that after the Sino-US trade friction began, China's exports of high-tech products to the United States have declined significantly, which has caused trade destruction effect and trade deflection effect from China to the United States.

Examining pay–performance links: The role of capital owning and self-interest among board members in the high-tech industry

Examining pay–performance links: The role of capital owning and self-interest among board members in the high-tech industry

The Impact of Country Risk on Innovation: Global Evidence

This article examines the impact of country risk on the level of innovation. Through empirical analysis of unbalanced panel data from 106 countries around the world from 1990 to 2020, we find that reducing country risk has a pro-innovation effect, and this conclusion holds after a series of robustness tests. We also find that the impact of country risk on innovation is more significant in countries with better infrastructure, democracies, lower income, lower political stability, and countries governed by left-wing parties. The impact of country risk on innovation is also more significant in high-tech industries than in traditional manufacturing industries. The mechanism analysis shows that country risk reduction promotes innovation by increasing and improving government efficiency, human capital, and the business environment. This study expands the research areas related to country risk and provides evidence for understanding the relationship between country risk and innovation.

Product upgrade and advanced quality disclosure in a supply chain

Retailers frequently preannounce the quality of upcoming products, highlighting the importance of information disclosure in supply chains. This study examines the interaction between advanced quality disclosure and product upgrades within a supply chain, where a supplier can release either upgraded products exclusively or alongside regular products in a subsequent period. Using a game-theoretical model, we investigate how the supplier’s upgrade decisions and the retailer’s disclosure strategy affect consumer behaviour, particularly strategic waiting and product cannibalisation. Our results show that when only upgraded products are offered, the retailer discloses quality in advance if the innovation level is high. When both regular and upgraded products are available, the retailer chooses advanced disclosure when the innovation level is either high or low. Even when the product improvement is minimal, advanced disclosure reduces cannibalisation and attracts more consumers to the upgraded products, thereby boosting the retailer’s profits. Additionally, the supplier may choose not to upgrade products when the innovation cost is moderate. These insights suggest that advanced disclosure can mitigate both cannibalisation and consumer waiting, particularly in high-tech industries or incremental innovation scenarios, such as electronics and smart home sectors, where the preannouncement of product information is crucial.

Bankruptcy Reform and Breakthrough Innovation: Evidence from the Quasi-Experiment in China

Using the quasi-natural experiment of staggered bankruptcy court establishment across China, this study examines the impact of bankruptcy reform on corporate breakthrough innovation. Results show that bankruptcy courts significantly facilitate breakthrough innovation, with particularly pronounced effects among firms in high-tech industries and competitive sectors, firms with prior innovation advantages, and non-state-owned firms. Mechanism analysis reveals that bankruptcy courts boost the supply of credit resources, especially long-term credit, providing stable financial support for technological breakthroughs. Additionally, stronger legal protection promotes R&D alliances, fostering breakthrough innovation.

Using generative neural networks when training digital engineers to improve the quality of their training

The problem and the aim of the study. Modernized higher education provides great prospects for artificial intelligence technologies to be introduced when training engineers for knowledge-intensive and high-tech industries. Applying generative neural networks makes it possible to meet the requirements both for programs to train relevant specialists and for the level of developed skills key to Industry 4.0 and for further Industry 5.0. The purpose of the study is to identify the possibilities of using generative neural networks when training digital engineers to improve the quality of their professional training. Research methods. The authors consider the generative neural network as an open resource with which it is possible to design, individualize and fill educational content in accordance with the professional interests of the participants in the interaction. The choice of service is justified by the type of information being processed and the engineer's work function being implemented. 68 bachelors of Vyatka State University are involved (Russian Federation). Training program: 08.03.01 – Construction. Focus: hydraulic engineering, industrial and civil engineering, Digital technologies for the examination of construction sites and real estate management. The assessment of the quality (level) of training is carried out with the help of materials from the fund of complex qualification tasks. For statistical processing of data, Pearson's chi-squared test is used. Results. The directions of work of students of the experimental group studying the discipline "Information Technology", including interactive communication supported by neural networks: generation of images and 3D-models, search for original titles, selection of a list of references, construction of diagrams and algorithms, etc. Statistically significant differences were revealed in the changes that occurred in the pedagogical system (χ2 = 9.095; p < 0.05). Conclusion. The summary are formulated that neural network services contribute to improving the quality of training due to the following didactic capabilities: presentation of information in various forms, automation of calculations, analysis of large amounts of data, decision support, etc. Difficulties are also highlighted: constantly updated features of services, the English-language interface, compliance with copyright and ethics of interaction on the network

Digital transformation and ESG performance: The chain mediating role of technological innovation and financing constraints

This paper aims to examine the impact of corporate digital transformation on environmental, social, and governance (ESG) performance of Chinese listed enterprises during 2018-2022. We also explore the chain mediating role of technological innovation and financing constraints. The paper suggests a positive relationship between digital transformation and ESG performance, and this impact is more prominent in private-owned enterprises, in large enterprises, and in high-tech and heavy-polluted industries. In addition, technological innovation and financing constraints have a chain mediating role in the influence of digital transformation on ESG performance. The findings will aid companies in improving ESG performance and achieving digital maturity.

Capital investment, digital economy and innovation of high-tech industries

Capital investment, digital economy and innovation of high-tech industries

Realisation of secondary vocational education programmes in high-tech training areas in LPR, DPR, Kherson and Zaporozhye regions in the aspect of career needs

Introduction. Special attention in the conditions of active technological development and digitalisation of the economy is paid to training specialists mastering secondary vocational education (hereinafter – SVE). This interest is based on the demand in the labour market for such specialists who will be able to make a significant contribution to the development of high-tech industries. To secure the successful implementation of SVE programmes in Donetsk People’s Republic (hereinafter – DPR), Lugansk People’s Republic (hereinafter – LPR), Zaporozhye and Kherson regions, it is necessary to ensure compliance with the learners’ career needs. For this purpose, it is necessary to take into account the needs of the labour market as well as the dominant industrial areas in these territories. The aim of the article is to analyse the current state of the SVE system in LPR, DPR, Zaporozhye and Kherson regions in high-technology training programmes in the context of the career needs of the new regions. Research methods. The quantitative and qualitative analysis was implemented using the number of the involved educational institutions: DPR (64), LPR (60), Zaporozhye (14), Kherson (4) and Kemerovo regions (84). Results. The large number of institutions makes it possible to implement the “Professionalisation” programme in the above regions, but at the moment no localisation of territories is available, including technological clusters. The comparative analysis of the SVE institutions in DPR and Kuzbass regions revealed the predominance of high-tech fields: computer science and engineering (13 and 11), mechanical engineering (12 and 15), land transport engineering and technology (16 and 10), construction engineering and technology (8 and 14). The SVE training areas in DPR are characterised by more programmes in the field «Economics and management» (24) and «Electrical and heat engineering» (17). Conclusion. The survey results can serve as a basis for designing a teacher training system aimed at the realisation of SVE programmes and supplementary education programmes in high-tech training areas in the said regions.

Internal audit quality and accounting information comparability: Evidence from China.

This study employs the impact and mechanism of internal audit quality on the comparability of corporate accounting information. Using manually collected internal audit data, the study focuses on non-financial listed companies of A-share market spanning from 2007 to 2022 in China. The findings are as follows: (1) Internal audit significantly enhances the comparability of accounting information, the higher the quality of internal audit, the more pronounced its contribution. This conclusion remains robust after conducting endogeneity tests. (2) Mechanism testing reveals that internal audit enhances accounting information comparability through two channels: mitigating agency costs and improving financial information transparency. (3) Moderation effect test proves that the quality of internal control and the high-tech industry will strengthen the positive relationship between internal audit and comparability of accounting information, while the degree of industry competition and the level of capital occupation by major shareholders will weaken the positive relationship.

Exit with My Colleagues: Exploring Collaborative Career Change of Journalists to High-Tech Roles

ABSTRACT This empirical study contributes to the existing body of research on journalists leaving their profession due to challenging working conditions, inadequate compensation, and heightened levels of stress. By employing a three-fold research approach, encompassing in-depth interviews, the Walkthrough Method on messaging forums, and a descriptive survey, this paper presents novel findings on the exit process and sheds light on the collaborative aspect of journalists transitioning to high-tech alternative careers. Through interviews with current and former journalists who have successfully shifted to the high-tech industry, the study reveals the underlying motivations driving this career transition and uncovers the unexpected network of support facilitating journalists’ departure from journalism. Additionally, this research raises concerns about the potential implications of this significant exodus in the field of journalism, highlighting the need for further examination and attention to this issue.

DOMINANTS FOR THE NATIONAL ECONOMIES’ COMPETITIVENESS

This article is devoted to innovation as a prerequisite for the national economies' sustainable development and a domain for their global competitiveness. The paper aims to highlight the internal essence of mutual relations between innovation, competition, and economic growth. It was assumed that innovation positively affected the competitive behaviour of economic agents and eventually contributed to an increase in public welfare. Regarding the period from 2007 to 2022, we considered the sample of Central European countries and the Baltic states. Theoretical generalization has been applied to systematize the factors determining competition and innovation. We used statistical methods and comparative analysis to investigate the indicators' dynamics. The interdependencies between macroeconomic dynamics and a set of competition and innovation indicators have been assessed. It was proved that the proportion of medium and high-tech industry value added in the total value added of manufacturing was quite important, yet not the ultimate criterion for ensuring high growth rates and sustainable development. The dynamics of commercial spending on research and development had been ambiguous and unsustainable. To ensure strategic competitiveness, national governments should encourage innovation in their respective business communities. The sampled economies have been examined considering a set of innovation and competition indicators (e.g., gross capital formation, research and development expenditures, logistics performance, export technological structure, carbon dioxide emission, and renewable energy consumption). Considering the implications of globalization, tax burden as an integral characteristic of the national economy's competitiveness has been evaluated as well. It was pointed out that: a) a stable, understandable and transparent tax policy should be implemented to protect the investors' property rights; b) a system of total anti-corruption measures aimed at preventing the practices of receiving undue benefits should be set; and c) the business sector should improve own environmental and social responsibility complexly, introduce resource-saving, green and circular economy.

Emotional Intelligence and Workplace Spirituality in Predicting Career Success of High-Tech Leaders

In the highly competitive environment of the high-tech industry, leadership roles are often filled with numerous challenges and stressors. Success in the workforce requires a combination of high emotional intelligence and a connection to workplace spirituality. This study aimed to compare demographic differences among high-tech leaders regarding emotional intelligence, workplace spirituality, and career success. It also sought to examine the relationships and effects of emotional intelligence and workplace spirituality on career success, as well as the moderating role of workplace spirituality in these relationships. A survey was conducted with 139 leaders from various high-tech companies in Taiwan. The results showed that male leaders demonstrated higher levels of self-awareness and self-motivation in emotional intelligence, while leaders with higher education levels exhibited greater self-awareness and empathy. Additionally, both emotional intelligence and workplace spirituality were significant predictors of career success. Notably, workplace spirituality moderated the relationship between emotional intelligence and career success. The implications of this study highlight the importance of enhancing emotional intelligence and workplace spirituality to foster leaders’ career success and gain a competitive advantage in the high-tech industry.

Outward direct investment as a shelter from external trade policy shocks: Firm‐level investigation of the US–China trade war

AbstractThis study examines the effects of external trade policy shock from the US–China trade war on firm value. Using a merged data set of Chinese‐listed companies, our empirical results reveal that Chinese firms conducting outward direct investment in the US have significantly higher stock returns around the date of the outbreak of the trade war as compared with the lower returns of exporting firms. This indicates a sheltering effect of pre‐existing outward direct investment activities. Moreover, we find that the sheltering effect is more pronounced for production‐oriented projects, high tech industries and tariff‐targeted sectors, while it is weaker for state‐owned companies.

The Clash between China’s High-Tech Industry versus the Chinese Government

China is experiencing a severe clash between its central government, the Chinese Communist Party, and its high-tech industry. While the Chinese government needs to expand and diversify its economy, it is attempting to impose stifling controls on the industry that could bring this to fruition. There are political, social, and economic reasons for this clash. But, most importantly, the clash between the Chinese government and the high-tech industry will most definitely affect the country’s economic future at a time when such factors as its gross domestic product and employment situation cannot afford a serious contraction. The aim and purpose of this article is to examine the numerous implications of China’s clash between its government and its high-tech industry.

THE INTERESTS OF THE UK FOREIGN POLICY IN THE CONTEXT OF THE FORMATION OF THE AUKUS INTERSTATE ASSOCIATION

The article is devoted to the study of the evolution of the UK's foreign policy in the period after its withdrawal from the European Union (post-Brexit period) in the context of the country's participation in the formation of the AUKUS (an abbreviation of the English names of Australia, the United Kingdom and the United States). The research methodology was formed by the principles of historicism, systematicity, and objectivity, general scientific methods of logic, comparative analysis, special historical methods of historiographic analysis, historical-systemic, chronological, historical-genetic, retrospective analysis, and comparative-historical methods of scientific knowledge. It is noted that the creation of the interstate association AUKUS in 2021 was a resonant event in the world of international politics. The agreements provide for the development of systemic military-political cooperation between the three states at the strategic level in the long term with the primacy of the US-British alliance, which will potentially have a significant impact on the configuration of the international security system, especially in the context of current attempts to revise it It is stated that the relatively recently launched international security project AUKUS has already become one of the examples of active foreign policy activities of the British governments in the post-Brexit period, which is fully consistent with the Global Britain strategy. By participating in AUKUS, the British side not only contributes to global security and strengthens its military presence in one of the key regions of world politics, protects its own geopolitical and economic interests, but also guarantees the development of high-tech knowledge-intensive industries for the long term. The project of comprehensive sectoral military and defence cooperation proposed by the United States (with the support of two allied states) reflects an attempt to maintain American and British influence in the Indo-Pacific region and globally in the face of the growing conflict with China. With the resumption of the US policy of isolationism and protectionism, and possible financial problems of the UK as the second most important partner, the AUKUS project faces uncertain prospects. Ukraine's international prospects also depend on the success or failure of the AUKUS project.